Kodak: Packaging part of future strategy

Antonio Perez, Eastman Kodak chairman and chief executive officer, sees the packaging market as important to the future of the company, as its US operations plan their emergence from bankruptcy protection.

Eastman Kodak filed for Chapter 11 protection in North America earlier this year and, speaking during the Kodak press conference on the opening day of Drupa, Perez (pictured, top) was bullish on the reasons for, and implications of, the company asking for protection from creditors.

‘Kodak fell asleep and didn’t move early enough,’ he said. 'The company owns valuable technology but was too attached to film, and if you try to transform too late you find issues.’

Chapter 11 allowed the company to carry out rightsizing and deal with legacy costs associated with its past, something he said it could not have done without the help of the US courts.

Kodak is now planning its emergence from Chapter 11 protection, Perez said, with Drupa an important part of helping the company on its new path.

‘Drupa will allow the industry to come out strong,’ Perez said. ‘In a mediocre global economy, it must be successful. We expect a successful show.’

Perez added that there are a number of markets before Kodak that present tremendous opportunities, including packaging.

‘There are many opportunities in packaging. Packaging gives me a buzz for the future as the opportunities are enormous.’

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